MIRA INFORM REPORT

Report No. :	347779
Report Date :	02.11.2015

IDENTIFICATION DETAILS

Name :	GIBLIN STONE MANAGEMENT COMPANY LIMITED
Registered Office :	Humbert  Street, Tubbercurry, Co  Sligo, 678815
Country :	Ireland
Financials (as on) :	31.12.2014
Date of Incorporation :	30.08.2005
Legal Form :	Private  limited  with  Share  Capital
Line of Business :	Subject is engaged in business of quarrying  of  ornamental  and  building  stone,  limestone,  gypsum,  chalk  and  slate
No. of Employee :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Ireland	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

IRELAND - ECONOMIC OVERVIEW

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity dropped sharply during the world financial crisis and the subsequent collapse of its domestic property market and construction industry. Faced with sharply reduced revenues and a burgeoning budget deficit from efforts to stabilize its fragile banking sector, the Irish Government introduced the first in a series of draconian budgets in 2009. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s banking sector and avoid defaulting on its sovereign debt. In March 2011, the KENNY government intensified austerity measures to meet the deficit targets under Ireland's EU-IMF bailout program. In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt. In 2014, the economy rapidly picked up and GDP grew by 3.6%. The recovering economy assisted lowering the deficit to 4.2% of GDP. In late 2014, the government introduced a fiscally neutral budget, marking the end of the austerity program. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Ireland’s low corporation tax of 12.5% has been central to encouraging business investment. Loose tax residency requirements made Ireland a common destination for international firms seeking to avoid taxation. Amid growing international pressure the government announced it would phase in more stringent tax laws, effectively closing a loophole.

Source : CIA

Company  Name

GIBLIN STONE MANAGEMENT COMPANY LIMITED

Registered  Address

HUMBERT  STREET, TUBBERCURRY, CO  SLIGO, 678815

Company  Summary

Registered  Address	HUMBERT  STREET	Trading  Address	HUMBGRT  STREET
	TUBBERCURRY		TUBBERCURRY
	CO  SLIGO		CO  SLIGO
	678815		CO  SLIGO
			617615
Website  Address	-
Telephone  Number		Fax  Number
TPS	No	FPS	No
Incorporation  Date	30/08/2005
Previous  Name		Type	Private  limited  with  Share  Capital
		FTSE  Index	-
Date  of  Change	-	Filing  Date  of  Accounts	-
Currency	EUR	Share  Capital	€100
SIC07	08110	Charity  Number	-
SIC07  Description	QUARRYING  OF  ORNAMENTAL  AND  BUILDING  STONE,  LIMESTONE,  GYPSUM,  CHALK  AND  SLATE

Key  Financials

Year  to  Date	Turnover	Pre  Tax  Profit	Shareholder	Funds  Employees
31/12/2014	-	-	€267,667	-
31/12/2013	-	-	€261,331	-
31/12/2012	-	-	€262,972	-

Mortgage  Summary

Total  Mortgage	0
Outstanding	0
Satisfied	0

Trade  Debtors  /  Bad  Debt  Summary

Total  Number  of  Documented  Trade	0
Total  Value  of  Documented  Trade	€0

Commentary

No  exact  match  CCJs  are  recorded  against  the  company.

Net  Worth  decreased  by  0.7%  during  the  latest  trading  period.

A  6.6%  growth  in  Total  Assets  occurred  during  the  latest  trading  period.

CJ

Total  Number  of  Exact  CJs  -	0	Total  Value  of  Exact  CJs  -	€0
Total  Number  of  Possible  CJs  -	0	Total  Value  of  Possible  CJs  -	€0
Total  Number  of  Satisfied  CJs  -	0	Total  Value  of  Satisfied  CJs  -	€0

Total  Current  Directors	2
Total  Current  Secretaries	1
Total  Previous  Directors  /  Company
Secretaries	5

Current  Directors

Name	JAMES  GIBLIN	Date  of  Birth	26/07/1950
Officers  Title		Nationality
Present  Appointments	2	Function	Director
Appointment  Date	20/12/2006
Address	MONTAIGH,  CURRY,  BALLYMOTE,  CO.  SLIGO
Name	BRIAN  GIBLIN	Date  of  Birth	20/02/1977
Officers  Title		Nationality
Present  Appointments	2	Function	Director
Appointment  Date	30/08/2005
Address	MONTIAGH,  CURRY,  CO  SLIGO

Current  Company  Secretary

Name	BRIAN  GIBLIN	Date  of  Birth	20/02/1977
Officers  Title		Nationality
Present  Appointments	2	Function	Company  Secretary
Appointment  Date	30/08/2005
Address	MONTIAGH,  CURRY,  CO  SLIGO

Top  20  Shareholders

Name	Currency	Share  Count	Share  Type	Nominal  Value	% of  Total  Share  Count
JAMES  GIBLIN	EUR	55	ORDINARY	1	55
BRIAN  GIBLIN	EUR	45	ORDINARY	1	45

Financials

PROFIT  &  LOSS

Date Of	31/12/14(%)			31/12/13(%)		31/12/12(%)		31/12/11(%)		31/12
Accounts
Weeks		52 (%)		52 (%)		52 (%)		52 (%)		52
Currency		EUR (%)		EUR (%)		EUR (%)		EUR (%)		EUR
Consolidated		N	(%)	N	(%)	N	(%)	N	(%)	N
A/cs
Turnover		-	-	-	-	-	-	-	-	-
Export		-	-	-	-	-	-	-	-	-
Cost of Sales		-	-	-	-	-	-	-	-	-
Gross Profit		-	-	-	-	-	-	-	-	-
Wages &		-	-	-	-	-	-	-	-	€68,3
Salaries
Directors		-	-	-	-	-	-	-	-	€66,5
Emoluments
Operating Profit-			-	-	-	-	-	-	-	-
Depreciation		-	-	-	-	-	-	-	-	€3,5
Audit Fees		-	-	-	-	-	-	-	-	-
Interest		-	-	-	-	-	-	-	-	€68
Payments
Pre Tax Profit -			-	-	-	-	-	-	-	-
Taxation		-	-	-	-	-	-	-	-	-
Profit After Tax-			-	-	-	-	-	-	-	-
Dividends		-	-	-	-	-	-	-	-	-
Payable
Retained Profit -			-	-	-	-	-	-	-	-

BALANCE  SHEET

Date Of	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12
Accounts
Tangible  Assets	€78,013	3.7%	€75,228	4%	€72,336	-3.2%	€74,740	-3.8%	€77,675
Intangible	€59,386	15.1%	€51,586	17.8%	€43,786	38.8%	€31,536	-	€31,536
Assets
Total  Fixed	€137,399	8.3%	€126,814	9.2%	€116,122	9.3%	€106,276	-2.7%	€109,211
Assets
Stock	€240,453	5.4%	€228,188	9%	€209,313	2.1%	€205,063	64.7%	€124,510
Trade  Debtors	€11,974	12.1%	€10,684	-76.2%	€44,926	2.9%	€43,662	-44.3%	€78,354
Cash	0	-	0	-	0	-	0	-	0
Other  Debtors	0	-	0	-	0	-	0	-	0
Miscellaneous	0	-	0	-	0	-	0	-	0
Current  Assets
Total  Current Assets	€252,427	5.7%	€238,872	-6%	€254,239	2.2%	€248,725	22.6%	€202,864
Trade  Creditors	€122,159	17.1%	€104,355	-2.8%	€107,389	40.2%	€76,617	999.9%	€1,815
Bank  Loans  & Overdrafts	0	-	0	-	0	-	0	-100%	€32,952
Other  Short  Term Finance	0	-	0	-	0	-	0	-	0
Miscellaneous Current Liabilities	0	-	0	-	0	-	0	-100%	€10,715
Total  Current Liabilities	€122,159	17.1%	€104,355	-2.8%	€107,389	40.2%	€76,617	68.5%	€45,482
Bank  Loans  & Overdrafts  and LTL	0	-	0	-	0	-	0	-100%	€32,952
Other  Long  Term Finance	0	-	0	-	0	-	0	-	0
Total  Long  Term Liabilities	0	-	0	-	0	-	0	-	0

CAPITAL  &  RESERVES

Date Of	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12
Accounts
Called  Up  Share Capital	€100	-	€100	-	€100	-	€100	-	€100
P  &  L  Account Reserve	€267,567	2.4%	€261,231	-0.6%	€262,872	-5.5%	€278,284	4.4%	€266,493
Revaluation Reserve	-	-	-	-	-	-	-	-	-
Sundry Reserves	-	-	-	-	-	-	-	-	-
Shareholder	€267,667	2.4%	€261,331	-0.6%	€262,972	-5.5%	€278,384	4.4%	€266,593
Funds

OTHER  FINANCIAL  ITEMS

Date  Of	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
Accounts
Net  Worth	€208,281	-0.7%	€209,745	-4.3%	€219,186	-11.2%	€246,848	5%	€235,057
Working  Capital	€130,268	-3.2%	€134,517	-8.4%	€146,850	-14.7%	€172,108	9.4%	€157,382
Total  Assets	€389,826	6.6%	€365,686	-1.3%	€370,361	4.3%	€355,001	13.8%	€312,075
Total  Liabilities	€122,159	17.1%	€104,355	-2.8%	€107,389	40.2%	€76,617	68.5%	€45,482
Net  Assets	€267,667	2.4%	€261,331	-0.6%	€262,972	-5.5%	€278,384	4.4%	€266,593

CASH FLOW

Date Of	31/12/14(%)			31/12/13(%)		31/12/12(%)		31/12/11(%)		31/12
Accounts
Net Cashflow		-	-	-	-	-	-	-	-	-
from Operations
Net Cashflow		-	-	-	-	-	-	-	-	-
before Financing
Net Cashflow		-	-	-	-	-	-	-	-	-
from Financing
Increase in		-	-	-	-	-	-	-	-	-
Cash

MISCELLANEOUS

Date  Of	31/12/14	(%)	31/12/13	(%)	31/12/12	(%)	31/12/11	(%)	31/12/10
Accounts
Contingent Liability	NO	-	NO	-	NO	-	NO	-	NO
Capital Employed	€267,667	2.4%	€261,331	-0.6%	€262,972	-5.5%	€278,384	4.4%	€266,593
Number  of Employees	-	-	-	-	-	-	-	-	-
Accountants	GILMARTIN  &  CO
Auditors
Auditor	The  company  is  exempt  from  audit
Comments
Bankers	ALLIED  IRISH  BANK
Bank  Branch
Code	93-72-74

RATIOS

Date Of	31/12/14		31/12/13	31/12/12	31/12/11	31/12
Accounts
Pre-tax profit		-	-	-	-	-
margin %
Current ratio		2.07	2.29	2.37	3.25	4.4
Sales/Net		-	-	-	-	-
Working Capital
Gearing %		0	0	0	0	12.4
Equity in %		81	83.20	80.50	86.10	95
Creditor Days		-	-	-	-	-
Debtor Days		-	-	-	-	-
Liquidity/Acid		0.09	0.10	0.41	0.56	1.7
Test
Return On
Capital		-	-	-	-	-
Employed %
Return On Total
Assets		-	-	-	-	-
Employed %
Current Debt		0.45	0.39	0.40	0.27	0.1
Ratio
Total Debt Ratio 0.45			0.39	0.40	0.27	0.1
Stock Turnover		-	-	-	-	-
Ratio %
Return on Net
Assets		-	-	-	-	-
Employed %

REPORT  NOTES

There  are  no  notes  to  display.

STATUS  HISTORY

No  Status  History  found

EVENT  HISTORY

Date	Description
01/04/2015	Annual  Returns
01/04/2015	New  Accounts  Filed
26/03/2014	New  Accounts  Filed
25/03/2014	Annual  Returns
23/02/2013	New  Accounts  Filed
22/02/2013	Annual  Returns
16/02/2012	Annual  Returns
16/02/2012	New  Accounts  Filed
16/02/2012	New  Accounts  Filed
09/04/2011	Annual  Returns
09/04/2011	New  Accounts  Filed
27/04/2010	Annual  Returns
24/04/2010	New  Accounts  Filed
24/04/2010	New  Accounts  Filed
20/03/2009	New  Accounts  Filed

PREVIOUS  COMPANY  NAMES

No  Previous  Names  found

RECEIVED  DOCUMENTS WRIT  DETAILS

No  writs  found

Statistics		Summary
Group	-	Holding  Company	-
Linkages	0 companies	Ownership  Status
Countries	In  0  countries	Ultimate  Holding  Company	-

GROUP  STRUCTURE

No  Group  Structure

PREVIOUS  DIRECTOR/COMPANY  SECRETARIES

Name	Current  Directorships	Previous  Directorships
BRIDIE  GIBLIN	0	2
PAULA  HORAN	459	13116
PAULA  HORAN	459	13116
FERGAL  O'DOWD	0	1
GILL  HANLON	143	6206

Average  Invoice  Value	€60.91
Invoices  available	1
Paid	1
Outstanding	0
Trade  Payment  Data  is  information  that  we  collect  from  selected  third  party  partners  who  send  us  information  about  their  whole  sales
ledger.

	Within  Terms	0-30  Days	31-60  Days	61-90  Days	91+  Days
Paid	0	1	0	0	0
Outstanding	0	0	0	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.22
UK Pound	1	Rs.99.93
Euro	1	Rs.71.67

INFORMATION DETAILS

Analysis Done by :	KIN
Report Prepared by :	ASH

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.